Insulin patch pump market is anticipated to grow at a CAGR of 9.8% during the forecast period. The growth of the market is attributed to factors such as the rising prevalence of diabetes, and increasing healthcare expenditure. According to the International Diabetes Federation, in 2021, 537 million adults (20-79 years) are living with diabetes – 1 in 10 around the globe. This number is predicted to rise to 643 million by 2030 and 783 million by 2045. People million adults have Impaired Glucose Tolerance (IGT), which places them at high risk of type 2 diabetes. Over 3 in 4 adults with diabetes live in low- and middle-income countries. Diabetes caused at least $966 billion dollars in health expenditure, a 316% increase over the last 15 years.
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Moreover, the rising frequency of Food and Drug Administration (FDA) approvals and increasing awareness regarding advanced patch pumps are accelerating market growth. In May 2023, the US Food and Drug Administration cleared the Beta Bionics iLet ACE Pump and the iLet Dosing Decision Software for people six years of age and older with type 1 diabetes. These two devices, along with a compatible FDA-cleared integrated continuous glucose monitor (iCGM), developed a new system called the iLet Bionic Pancreas. This new automated insulin dosing (AID) system uses an algorithm to determine and command insulin delivery.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Insulin Patch Pumps Market Report Segment
By Type
- Disposable
- Reusable
By Distribution Channel
- Hospitals
- Private Clinics
- Retail Pharmacies
- Others (Online Pharmacies)
Global Insulin Patch Pumps Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global insulin patch pumps market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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